ICF Acquires Applied Energy Group from Ameresco

January 7, 2025

ICF has acquired Applied Energy Group (AEG) from Ameresco in a divestiture that expands ICF's utility and state & local government energy technology and advisory capabilities. AEG brings a cloud-based demand-side management platform, over 100 utility and DSM experts, and projected ~$30 million in 2024 revenue; Ameresco said the sale allows it to focus on core projects, asset and O&M businesses.

Buyers
ICF
Targets
Applied Energy Group
Sellers
Ameresco, Inc.
Industry
Energy
Location
New York, United States
Transaction Type
Divestiture

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